Evolution Mining Limited (OTCMKTS:CAHPF) Sees Large Growth in Short Interest

Evolution Mining Limited (OTCMKTS:CAHPF) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 653,774 shares, an increase of 131.3% from the May 31st total of 282,673 shares. Based on an average trading volume of 32,942 shares, the short-interest ratio is presently 19.8 days.

Evolution Mining Price Performance

Shares of OTCMKTS CAHPF opened at $8.50 on Monday. The company’s fifty day simple moving average is $8.96 and its 200 day simple moving average is $9.33. Evolution Mining has a 12-month low of $4.36 and a 12-month high of $12.70.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded Evolution Mining from a “neutral” rating to a “neutral” rating and set a $12.70 target price on the stock in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $12.70.

Evolution Mining Company Profile

Evolution Mining is an Australia-based gold and copper producer with its corporate headquarters in Sydney. Listed on the Australian Securities Exchange and trading in the United States on the OTC market as CAHPF, the company focuses on the discovery, development, extraction and processing of mineral resources. Evolution’s integrated operations encompass all stages of the mining value chain, from exploration and project acquisition to production, processing and marketing of precious metals and copper concentrates.

The company’s asset portfolio spans multiple jurisdictions across Australia and North America.